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“May ’26 beans remain stuck between $11.40-$11.80. Spot crush margins rebounded $.07 ½ to $2.78 bu. while bean oil PV slipped to 51.6%. While energy/war headlines will continue to drive price volatility, the markets focus will likely begin to shift to the U.S. planting season and Trump’s trip to China in mid-May. Chinese weapons supplied to Iran could complicate negotiations,” Soderberg said. “The BAGE kept Argentine production at 48.5 mmt, just above USDA’s 48 mmt forecast. U.S. soybean acres in drought plunged 13% to 31%.
